Low inventory pushing Chicago suburbs closer to sellers

Days on market and inventory drops in suburban markets moving prices upward, report says
  • In July, month-to-date, the median sale price in the 200 Chicagoland communities covered was $260,000. The year-to-date median sale price was $242,500.
  • Days on market in July dipped 8.1 percent annually, to 80 days.
  • The biggest gain in median price in July year-to-date was in Melrose Park, where prices increased 50 percent.

The housing market in the Chicago suburbs is ending the summer on a high note, according to new data released by Midwest Real Estate Data and Mainstreet Organization of Realtors (MORe). Measuring data from 200 surrounding communities in the Chicagoland area, the July housing data covers DuPage, Lake and suburban Cook counties.